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6 ESSENTIAL TIPS FOR SMALL BUSINESS PAYROLL TAX COMPLIANCE
Staying compliant with payroll tax laws is crucial for small businesses. Mistakes can lead to fines, strained employee relationships and even legal consequences. Below are six quick tips to help you stay on track. 1. MAINTAIN ORGANIZED RECORDS Accurate recordkeeping is the backbone of payroll tax compliance. Track the hours
UNDERSTANDING THE WORK OPPORTUNITY TAX CREDIT
According to the U.S. Bureau of Labor Statistics, the unemployment rate continues to be historically low, ranging around 4.0% in 2024. With today’s hiring challenges,
LOOKING AHEAD TO 2025 TAX LIMITS AS YOU PREPARE TO FILE YOUR 2024 RETURN
Right now, you are likely more concerned about your 2024 tax return than you are about your 2025 taxes. However, now is a good time
3 TYPES OF RETIREMENT PLANS FOR GROWING BUSINESSES
For companies that make it past their initial stage, there comes a time when they must loosen up the purse strings and start investing in
EARLY BIRD TIPS: ANSWERING YOUR TAX SEASON QUESTIONS
The IRS announced it will start the 2025 filing season for individual income tax returns on January 27. That’s when the agency began accepting and
HEALTHY SAVINGS: HOW TAX-SMART HSAs CAN BENEFIT YOUR SMALL BUSINESS AND EMPLOYEES
As a small business owner, managing health care costs for yourself and your employees can be challenging. One effective tool to consider adding is a
SENIOR TAX SAVING ALERT: MAKE CHARITABLE DONATIONS FROM YOUR IRA
If you’ve reached age 70½, you can make cash donations directly from your IRA to IRS-approved charities. These qualified charitable distributions (QCDs) may help you
GET TAX BREAKS FOR ENERGY-SAVING PURCHASES THIS YEAR BECAUSE THEY MAY DISAPPEAR
The Inflation Reduction Act (IRA), enacted in 2022, created several tax credits aimed at promoting clean energy. You may want to take advantage of them
SELF-EMPLOYMENT TAX: A REFRESHER
If you own a growing, unincorporated small business, you may be concerned about high self-employment (SE) tax bills. The SE tax is how Social Security
THE NANNY TAX: WHAT HOUSEHOLD EMPLOYERS NEED TO KNOW
Hiring household help, whether you employ a nanny, housekeeper or gardener, can significantly ease the burden of childcare and daily chores. However, as a household